Price Don’t Lie: Will Loews Corporation Run Out of Steam Soon?

Price Don't Lie: Will Loews Corporation Run Out of Steam Soon?

The stock of Loews Corporation (NYSE:L) hit a new 52-week high and has $46.33 target or 3.00% above today’s $44.98 share price. The 8 months bullish chart indicates low risk for the $15.23B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $46.33 price target is reached, the company will be worth $456.90M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 472,921 shares traded hands. Loews Corporation (NYSE:L) has risen 12.33% since April 28, 2016 and is uptrending. It has outperformed by 6.40% the S&P500.

Analysts await Loews Corporation (NYSE:L) to report earnings on February, 13. They expect $0.66 earnings per share, up 43.48% or $0.20 from last year’s $0.46 per share. L’s profit will be $223.47 million for 17.04 P/E if the $0.66 EPS becomes a reality. After $0.97 actual earnings per share reported by Loews Corporation for the previous quarter, Wall Street now forecasts -31.96% negative EPS growth.

According to Zacks Investment Research, “Loews is a holding company. Their subsidiaries are engaged in the following lines of business: commercial property and casualty insurance (CNA Financial Corporation); operation of offshore oil and gas drilling rigs (Diamond Offshore Drilling); transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas (Boardwalk Pipeline Partners, LP); and operation of a chain of hotels (Loews Hotels Holding Corporation).”

Insitutional Activity: The institutional sentiment decreased to 1.05 in Q2 2016. Its down 0.06, from 1.11 in 2016Q1. The ratio worsened, as 30 funds sold all Loews Corporation shares owned while 127 reduced positions. 39 funds bought stakes while 136 increased positions. They now own 187.71 million shares or 0.86% more from 186.12 million shares in 2016Q1.
The New York-based Jpmorgan Chase & has invested 0.2% in Loews Corporation (NYSE:L). The Illinois-based Nuveen Asset Mngmt Ltd has invested 0% in Loews Corporation (NYSE:L). California State Teachers Retirement Sys has 610,072 shares for 0.05% of their US portfolio. Herndon Mngmt has invested 0% of its portfolio in Loews Corporation (NYSE:L). Foundation accumulated 163,202 shares or 1.25% of the stock. The Texas-based Hbk Ltd Partnership has invested 0% in Loews Corporation (NYSE:L). The Switzerland-based Gam Hldgs Ag has invested 0.02% in Loews Corporation (NYSE:L). Cetera Advisor Network Ltd Liability accumulated 6,844 shares or 0.02% of the stock. Shell Asset Com has 0.02% invested in the company for 25,496 shares. Churchill Mngmt holds 0.31% of its portfolio in Loews Corporation (NYSE:L) for 113,666 shares. Hl Financial Ser Ltd Liability Corporation, a Kentucky-based fund reported 11,403 shares. Davis Selected Advisers, a Arizona-based fund reported 5.85 million shares. Schwab Charles Mngmt has 1.32M shares for 0.07% of their US portfolio. Commerzbank Aktiengesellschaft Fi last reported 8,939 shares in the company. State Common Retirement Fund has invested 0.04% of its portfolio in Loews Corporation (NYSE:L).

Insider Transactions: Since June 10, 2016, the stock had 0 insider purchases, and 7 selling transactions for $366,980 net activity. 130 Loews Corporation (NYSE:L) shares with value of $5,412 were sold by BERMAN ANN E. $5,279 worth of Loews Corporation (NYSE:L) shares were sold by FRIBOURG PAUL J. Another trade for 130 shares valued at $5,413 was made by DIKER CHARLES M on Thursday, September 1. 130 shares with value of $5,413 were sold by LASKAWY PHILIP A on Thursday, September 1. $337,178 worth of Loews Corporation (NYSE:L) was sold by SCOTT RICHARD WALDO on Tuesday, November 1. Another trade for 130 shares valued at $5,409 was sold by HARRIS WALTER L. BOWER JOSEPH L had sold 72 shares worth $2,876 on Friday, June 10.

Another recent and important Loews Corporation (NYSE:L) news was published by Nasdaq.com which published an article titled: “Loews Corporation (L) Ex-Dividend Date Scheduled for November 28, 2016” on November 25, 2016.

L Company Profile

Loews Corporation, incorporated on November 12, 1969, is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore gas and oil drilling rigs; transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas, and operation of a chain of hotels. The Company’s subsidiaries include CNA Financial Corporation (CNA); Diamond Offshore Drilling, Inc. (Diamond Offshore); Boardwalk Pipeline Partners, LP (Boardwalk Pipeline), and Loews Hotels Holding Corporation (Loews Hotels).

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